Cisco Systems (NASDAQ:CSCO) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $46.93 price objective on the network equipment provider’s stock. Vetr‘s price target suggests a potential upside of 5.77% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. ValuEngine raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, January 31st. Robert W. Baird reissued a “buy” rating and set a $41.00 price objective on shares of Cisco Systems in a report on Tuesday, December 5th. Sanford C. Bernstein reissued a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a report on Monday, November 27th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $38.99 to $46.00 in a report on Friday, January 5th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $44.25.
Cisco Systems stock opened at $44.37 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49. Cisco Systems has a 1-year low of $30.36 and a 1-year high of $46.16. The stock has a market cap of $216,836.48, a price-to-earnings ratio of -138.66, a price-to-earnings-growth ratio of 3.03 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period in the previous year, the company earned $0.57 earnings per share. sell-side analysts anticipate that Cisco Systems will post 2.32 EPS for the current fiscal year.
Cisco Systems declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other news, EVP David Goeckeler sold 20,671 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following the sale, the director now directly owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,986 shares of company stock valued at $2,116,422. Insiders own 0.05% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Opes Advisors Inc grew its stake in Cisco Systems by 0.6% during the 2nd quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after acquiring an additional 44 shares in the last quarter. Leisure Capital Management grew its stake in Cisco Systems by 0.6% during the 2nd quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after acquiring an additional 48 shares in the last quarter. GM Advisory Group Inc. grew its stake in Cisco Systems by 0.3% during the 2nd quarter. GM Advisory Group Inc. now owns 19,548 shares of the network equipment provider’s stock valued at $612,000 after acquiring an additional 61 shares in the last quarter. MEMBERS Trust Co grew its stake in Cisco Systems by 0.7% during the 2nd quarter. MEMBERS Trust Co now owns 12,580 shares of the network equipment provider’s stock valued at $394,000 after acquiring an additional 90 shares in the last quarter. Finally, Heritage Trust Co grew its stake in Cisco Systems by 1.2% during the 2nd quarter. Heritage Trust Co now owns 8,381 shares of the network equipment provider’s stock valued at $262,000 after acquiring an additional 100 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.
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Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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